 Good morning traders and welcome to the Thursday edition of the pro trader trader webinar series this week all week We've had professional traders Yesterday you saw a J trader actually for two and a half hours nine fifteen or so until What was it eleven forty five or something like that? Anyway, yeah, nice nice very thorough webinar on stocks J trader is one of the traders that comes in every Wednesday, right now today We have scoppelsini a futures trader if you guys may have heard of Scott. I'll introduce you here in just a second But we have him every Thursday. Okay, this is part of the book map education you get When you subscribe to global plus there's educational course You get access to the daily advanced webinars for one hour every day every weekday at 10 a.m And then you have live trading with Scott and J trader So two days a week so live analysis and trading from a professional and how they Read order flow their setups and how they optimize entries and exits. There's a lot here to go over So it's really great stuff. We feel very fortunate to have Scott his background He's been trading for over 20 years and during the years of 2002 to 2005 Scott was responsible for trading about 10% of the S&P many futures volume He was featured in Brett steenbarger's book on trading psychology And Scott now focuses focuses on trading both equities and futures. He's an expert scalper And has an innate ability to quickly read order flow and volume within price patterns Here's Scott's contact information. Okay, you've got his website You've got his email Twitter account. He has a trading room here. If you're interested, you can click on the link I'm gonna put all these links into the chat for you in just a second so you can, you know, click Click directly from the link He has an educational course on our book map marketplace and there's special affiliate deals you can get from Scott With this link here again, I'll put all these links into the chat I need to go over the disclosures and then we'll turn it right over to Scott General disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations Live trading is in simulation demo paper trading mode and strictly for educational purposes Live trading executed in simulation cannot accurately represent realistic trading performance The goal here is not to shadow the trader. The goal here is to learn in the live environment from a professional trader risk disclosure Trading futures equities and digital currencies involves central risk of loss and is not suitable for all investors An investor could potentially lose all or more than the initial investment Risk capital is money that can be lost without jeopardizing one's financial security nor lifestyle Only risk capital should be used for trading and only those with sufficient risk capital should Consider trading past performance is not necessarily indicative of future results. Good morning Alan Tom David and Doug and others. I'll get to some of your questions Is and in the in the chat there, but let me turn it over to Scott so he can start with his presentation Do I appreciate me? Yes Stepping to my room here. We've got a position on and There's new bias coming in so I can now trail this I'll go over this here in a second But you can see this big bite. You got my screen by the way Yeah. Yeah, it looks good. How about mission control mission control come on up There it is. All right All right So you can see his bias coming in right here It's threshold thresholds 800 meaning it's what I pay attention to to take trades and less than that I pretty much ignore We've shorted Let me draw this zone first because I'm able to trail my step now based on this new setup and I may add to this trade now See where this started here the way I draw my zones. I got to do is come up to this little cursor guy come to where this spiked So and then incorporate all the prices that happen in that spike. So that was basically up to And I already forgot how to use that till Bruce. So over there in a second This is kind of a weird tone Here See where that ended. It's probably still coming in here there S&P 720 free buy All right, so you can see this bite. I just keeps coming in here and P 700 sell all right, so Of course, let me trail myself. So I'm gonna go four points above this last zone here the top of this I'm gonna show you why in a second again. I'm just trying to get situated here. Uh, this is say 1150 we'll go 1550 You can see my stock was over at 22 I'm gonna move that down to 1550 Make sure I do it by other accounts because I would forget and then I Get smoked. All right, so I may add to this trade now. So what what I took Let's back up here quickly So I'll just show you here first again. This is happening right now. So and I'm on about two hours sleep. So this is Mine's not working as quickly as usual. Anyway, we had big buys right here. You can see this I was all close to a thousand. That's this. So I'm here. We broke below it. I go an ATR On the five minute S&P 700 free buy There's more buy ice here. Let me get all this situated first. This is basically One big zone. No, I think There's just the same zone. That's the same zone. All right. It's coming in again here though So ice is gonna be really right or really wrong here We saw this yesterday at the close where ice tried to catch this to move down and they got crushed And it broke like 20 points in the globe as I posted that on twitter. This is the exact same thing that was happening yesterday. So Um So anyway I'm looking for an ATR move below the zone retest fail and I'll add to this trade and ATR is ever shoe range It's about four and a half four point three four points. So we're looking at four and a half points below the zone That's a five minute you can use that or you can use 20 percent of the hourly ATR To just decide your zones. I'm assuming most people on here have seen my prior webinars The ATR for the hourly is 10 This is too volatile for two points. So I'm using I'm going to use four and a half points so meaning For this to be a valid broken ice set up So broken ice is when the buy ice tries to stop the move it moves It needs to move four and a half points below to to verify that's broken ice If it retest fails half an ATR I'll initiate another short and then I'll trail my I may uphold my second short Stop at the same spot where I just trailed down from Um, so anyway what I did this first time was Hopefully the market will let up for a second so I can explain this. That'd be nice of it This came down here That was this zone here. We moved an ATR below we retested And you can see where I shorted half an ATR below that which was about two points Two and a quarter points. I shorted the first time my stop went four points above this zone So I put it at 22 right now. This zone just came in new ice. This is getting now This is considered broken ice too. We just moved four points below below this you can see here So The normal routine is these zones will break especially if it's against the paper it will come back and retest the zone Just because paper controls the show paper meaning the big money the funds hedge funds quant funds They will get it back to this area to cover their trades and then them covering their trades causes the next wave down So that's the theory. It's not a theory. It's what I used to do as a big trader I've this rather big traders do just imagine when you're caught in a trade Whether it's a one lot or a hundred lot or a thousand lot if you're wrong And you don't stop out you're praying it comes back and you're saying I promise I'll just scratch and wait for my just come back so I can scratch and that's what they do when it comes back They'll put their offers in and it gets filled as many as they can that they got run over on And if it starts to move away, then they have to chase it and that causes the next move down So that's that's the whole principle behind that. So anyway, if this retest fails, I will add to this trade now um You know, I have to rest six points above this four points above so that would be a Yeah, that's fine I'll just I'm just making sure because you got to you got to adjust your size to how much you're risking and in my room We use a See if I can find that for you Just to give me a quick look at that So good. We use a risk Top sell 150 I was just going to show you guys it's basically where you can put your risk in Um, all trader has it and you can decipher by How many points you need to risk what kind of size you can put on and that's the most crucial part of trading Because you don't want to be risking more than you shouldn't be losing more than one and a half two percent of your account size on every trade So I'll see if I can find that here when this slows down, but This is not retested. So this is the one of the issues if you do wait for a retest That's a conservative trade. Um, if it doesn't retest then you're you're not going to put the trade out Right, so that's what you have to risk. You see you have to decide if trader Hey, am I going to play first break of the zone like some of the guys in my trade room I was just watching they played first break of this zone up here. It did retest, but this one May not retest so you can either play first break or you wait for the retest That's a more conservative and sure entry, but it may not come back. It's the problem, right? So Anyway, so this was 600 more eyes 479 so this area combined is another basically another zone right here So I'm actually going to draw this in just because This plus this will be threshold and it's close enough together Again, forgive me. I'm about two hours sleep. My air conditioning broke I had to go to hotel and then the air conditioning there was rattling all night. So I got no sleep It's pleasant So what I'm gonna do here, I'm gonna I'm gonna cover three of these for right now just because into that other Zone and I'm gonna see if this can retest this upper zone and then I'll If this breaks this retest that I'll just put the up with that trade back and on plus another trade This newest zone. I don't usually do these kind of alluded zones like this, but you can see this spike here It's basically close enough together That's the zone here So I just I just know this market and I know we're going to come back up here So I can put that three a lot back on when we come back up there just because Trades because it's impossible for this market to go down Unless it's overnight, of course, so let's let's go to the basics, right? So this is what we do in the trade room every morning We go through these the longer time frame charts to figure out and come figure out where these markets are and come up with the thesis, right? So What is happening here and yes is We've we built balance here Trying to break down have failed tried to break out held the high volume node Which you need to hold to remain bullish tried it again held it tried it again held it But we just could not break out to the upside and then all we did is we form more balance Then we form more balance and then yesterday after the Fed we tried to break down. What do we hold? The high volume node of this right and not only do we hold that we put in a buying tail Which is instant rejection. So that is bullish But but it's being below all of this trade. So you just imagine how many traders are wrong here That are wrong, right? So you don't want to be buying high volume nodes Percentage wise the odds of this stopping right here is very low because you have That's a different scenario than if this balances way up here and then move down into there and then yeah But here you have these guys puking usually it goes right through this hvn It held the first time But I have a feeling if this comes down that there's not a feeling if this comes down and this this gets through this tail That's adios to yes for now. Um, this should be a nice extended move Tomorrow is some huge quad witching expirations like 1.7 trillion dollars of options are coming off like These markers are going to be crazy and this could be the catalyst for for the huge move that's Depending So right now it's kind of iffy You know, I'm obviously leaning short because of this this is the most current thing But it is holding at this hvn with the buying tail So I could see this just chopping around here for a while and then finally doing that It could do that. This is still bearish It could retest the bottom which it just did and fail it can come all the way up to the high volume note And fail so it's still short term bearish in my view If it gets above that then I'll be looking to buy until then I'm looking to sell because this is the most current structure So that's where we are in the ass I'm going to wait here for a retest of this zone and then decide what I'm going to do like I told you This is what es does. It's just never can just flush Only overnight q i sell 150 here's the retest Since he's topped by 150 So I'm not trading in q either way. I don't like where this is It's the least looking least bearish looking market out of the three that I follow You can see here So Markets are trade in one of two ways. They're trading in balance or conviction Let's try to break down conviction fail breakdown balance Conviction balance conviction, right? So Meaning move away and then move away our traders puking that we're taking positions. So this was a balance this was A balance right the fed came out. We broke down where to behold The hv into this balance looks just like the es right put in a buying tail now. We're back to Basically the hv into this Yes, you could short this but this doesn't look as good as the es yes We're still below that balance that I just showed you so I will look to short this market once we can get through the high buying node of this Here and this tail and then the next area down. I'll be watching is down here That's when I want to short this market. Otherwise if this does this I will look for longs But that's I don't want to trade in this area right now because it's Nasdaq is choppy as as it is already. So I'm not interested in not trading that in that area Russell looks As bearish or if not more bearish you can see here We put in a balance here Balance is just back and forth trade right traders placing bets then we tried to break down What are the retest by buying node and then we built more balance below balance That this thing goes a little lower. It's in big trouble Right, there's not a lot of structure. You got this guy here But again, is this going to hold up this market where all these traders have to puke probably not This is probably the next area down this balance here And if not all the way and you can see here, this is basically one huge balance It might come right back down to the bottom here. So that's what I'm that's my thesis right now So the way I trade is I come up with thesis based on structure Then we go to the we look at a couple other things which I'll go over here Shockingly, yes came back into that zone. So let's keep an eye on this So what I'll do here because this did come in Below this one I'm going to wait for a break of this zone and then I will get in aggressively below here I'm not going to short on a Move away from this zone because you still got to get through this So again, I have a half position on already if this comes and breaks through here Then I will get short if not I'll let him come stop you out So some of the other stuff that we look at to base our decisions number two Well, the main driver of all my trading is the book map volume, right? But I wait for book map volume and important that areas that I deem important, right? So the other area That I deem important are the other things that I deem important are market profile All right, we'll continue to these we call these lovely levels here And there's also something interesting happening here that I'll go over in a second This is a yes So what we do here is we take a look at market profile most people are familiar with market profile I use the time Time price opportunity is not volume because I see enough of volume in my right the trades. I like a different look So these are just This was yesterday's trade You can see this was the fed meeting and it failed Again, this is just yesterday when I put it together If you're confused you'll understand so We opened up up here. We want to write through this prior composite value area Through we'll straight through this one couldn't hold in this one And then this morning we try to test it and then we're back into this one, right? We've already tested the upper edge So I'm expecting this and then once we get in here finally again, I think we're going to come down into here and then If for some reason something changes and we get out of this one and then back into this one We get above all this then I'm going to change my thesis But right now I'm leaning short based on the structure. I just showed you in market profile So let's get this normal looking You can see it was a big wide range day right so The way I merge these zones is I go through this every time I'll go through this quickly because I know this is kind of more of a general webinar where people might have not seen this before so These are days individual days, right? And this is just 70 percent of the trade 70 percent of the trade if they overlap more than 50 prior days I will merge them together Right and you can see Inside inside inside or Joel three Right and then you draw a composite value or instead of a normal value area like for instance The day before yesterday, this was just the daily value area 70 percent of the trade Traded inside that value area and the point in control is what the price that traded the most inside the value area It's very simple once you understand what you're looking at So I'm going to merge These backs so you can see how I did that and then what I do is I draw a composite profile Right that's stronger than a daily profile And then we had this individual day and then yesterday you can see this It was a wide-range day because of the fed meeting and you can see I'm sorry that's point of control this and this and this is where we closed right um So I'm not going to merge this because I'll merge This 50 percent This is kind of confusing too, but Just for right now. Just understand I'm not merging just no I'm not merging this day with these prior profiles yet after today. I'll probably merge the next two I don't want to get into that right now. But anyway, what I'm watching in these are these prior Composites and how it reacts, right? We try to get in this one rip back into this one We did trade back up in the year and now we're balancing are we gonna meaning It's not like a balance area like I was talking about earlier, but we're just seeing On the edge on the ledge are we going to fall back in the year and then in the year? That's what I'm playing for And then I wait for my real-time volume to Confirm that see we're out here It's the usual es nonsense. So he's got a spike back And that's why I got out of three there because I knew that was going to happen Right a strong suspicion. So anyway We pop back into this zone. This was the original zone. This was this No, I'm sorry. So here you go. So this was the original zone That we shorted this came in while we're on and then this final zone It came all the way back up to the top the bottom of this first zone We're failing I'm gonna wait till we get back below here to do anything and something else is probably gonna come in before that anyway So that I can Place a new trade based on the new information, but we're still short for now um Any questions before I move on verse And I'll use you already covered it. Yeah, never mind Oh, I don't want to go through the things that we look at so market profiles One of the other factors and then we also I also use this is a new addition I use Ludwig levels very very powerful You know to the website And see what they're all about, but I had a student that I matter last year and he started using these on top of the bookmap volume SI indicator signals that I in my course and he Took off and made he's made a couple almost a couple million bucks in the last four months So he swears by these levels So I started watching him and the whole room uses them now and they're just you can see they're just awesome Um, you know again in context you're right. I'm not I don't use anything in a vacuum Um, but when this agrees with my other thesis stuff, then it's it's even better, right? So this is what I use so this is this is interesting as well So this is cumulative volume book map has the same type of feature on there on their thing It's like the very first indicator you see when you get book map But you can see here we look with this cumulative volume. You want to look for divergences, right? So meaning All this is showing you as the aggressive buyers and sellers So if it spikes up it means guys were taking offers Right, meaning they were aggressive buyers if it spikes down that means they're hitting bids, right? So what you can see here from the last time we were up here We were at positive 4,000 meaning there were 4,000 more buyers than sellers Meaning a more aggressive buyers and so there's always an equal amount of buyers and sellers But meaning there were 4,000 more aggressive Taking of offers at this area and you can see now we return here and look at the divergence in the buy Okay, this is not like a just a You can just trade this by itself, but it's just good to see like everything else So it's good to see. Hey, there's net sellers Versus the last time we were up here. Then you look at other stuff here. You got the date. This is the daily value area What's the daily value area? It's one standard deviation from v-web So if this holds and then breaks below this lug, this is going to be this is going to be the move that I was anticipating For some reason it does not and it goes higher than I'll reassess, but we've got that going for us as well. So I look at that I look at ledwig levels again If you're part of my room, you get discounts to those if you come in there, I'll explain all that there The other thing we look at is what we call algoh guy in my room. This is just like cell 150 Stopped out of this at least cover half of those So I will just reassess now this buy ice was able to hold this for now, right? So It is what it is. I had I had a good trade on and then buy ice decided to stop it and hold the market So if I get stopped out, I'll take a small loss and I'll reassess and I'll wait for my new signal I'm not going to be bullish this market yet in this area once if we move above like 42 25 That'll be bullish. If not, I'm going to continue to look for bearish setups It just didn't wasn't able to pierce through that time, right? So the other thing we look at is algoh guy, so all this is an exponential moving average ribbon I actually learned this from one of my students last year and I'm very reluctant to add things to my training, right? It's as simple as can be its volume Structure the two things that I use that are because they're very powerful after monitoring them for enough time I said, yes, this is something I can reduce to other traders This is one of them. This is just a This is an exponential moving average ribbon It's a default study on thinkorswim. You can get a thinkorswim account You put like that thing as low as 100 bucks in there and get their access to their tools Anyway, the way a lot of traders use this is the blue is a simple moving average ribbon band Which are different time periods the red's longer time periods So the way they use this is when the blue crosses above the red It signals trending moves The way the guy that I learned this from is that he liked he liked to play pullbacks into the red And then as it got above the blue by it and you can see sometimes it doesn't work So we don't I don't trade this by itself But I just use this to verify because you know a lot of algos are set to this stuff The reversion of the mean and moving average stuff So when this crosses and you want it like for instance If this does this and it can't pull one of the best setups I've seen for this is when the market moves above and it can't pull the blue above where you see space Once it gets back below that's go time for the algos and that's on top of my thesis And then if I get the buy them, then I just know everything's in my favor But I don't trade these are like check marks. Everything I look at is a check mark I don't use one on its own even that even the most powerful one the book map si indicator setups I don't use by itself, right? I make sure that other things I have at least a couple other check marks in my favor before I start taking trades off the volume So my point is I don't I have to have the volume This is number one, but these other things I don't have to have everything aligned to take the trade If you do I get everything aligned then it's an a plus plus trade But if I don't I still will take the trade for instance like this. I'm you know, I'm short This isn't necessarily bullshit, but it's trying to become bullish But my point is I don't trade anything in a vacuum. All right, so that's that market Let's cover some other ones now. I did not get stopped out to the tech which that's shocking in itself Especially the way my last two days have gone It's in regular life figure out Exact tick like a year in gold where I was long from my webinar I got on this morning and just went over these markets and I put this long on and you can see this is the standard for me Exact tick stop out right back up So anyway, I still will take longs in gold here and I'll go over here I sell 157 Um, so let's let's let's go over this like I do on my trigger right so we'll bring up the longer term shower We've been calling the sell-off for weeks waiting for this big move and it finally happened So what happened here from just from what I explained to you guys earlier And you I sell 151 you can see here This was net guess I sell 164 Today's the net guess So anyway, we've been waiting for that we've been waiting for this break for a while we had The smaller balance actually we had this bigger balance Try to break down try to come back. What a re-re-test the bottom of the balance, right? Then we built more balance then we built more balance below balance below below the big balance below the big balance Finally broke. This is actually one big one Try to try to hold here temporarily rip through and I told the room But yesterday this is the next stop down either the top of this guy where this broke out from There was 1200 by stops that day or the high buying node and you can see Is that exactly where we came some of my favorite trades are extended moves right into important areas And this is one of them This is why now I want to flip to at least a temporary long in gold not that I'm bullish this market But I think this could bounce I think this can bounce back up to here And then maybe for balance again and then then actually when it finally gets through this guy Then it's it's going to be ugly, but I will take a long temporary long gear I tried it earlier and obviously came down and sat me out I did actually have a nice profit in this but I was getting on the webinar and I kind of lost track of up here So you can see where I got along here and this was a Almost 100 tick trade and I just lost track of and I would have covered at least one of I only had two I'm because of what I had to risk But I um I missed this and it came all the way back to stop me out But I'm still looking for longs here. So if something pop fires off while we're on this webinar I will go along again. There's just been nothing as of right now Russell, I just heard something and see what's going on here Russell my thresholds of one at least 150 I'm not seeing anything right now Old in the s or that I could stop on there's there's the old stop up All right, so I mean I played that smart I knew once this that second ice guy came in I got out of half and then I let half run I got stopped out But I still will take shorts if I can see something new come in not based on this old stuff now, right because we basically We ripped through the this ice this ice held the spice tried to hold it on the sell-off and it worked, right? I'm not going to trade back into the zone now. I'm going to wait for something new to come in Then I will try to short it again if we get above these areas, then I'm going along So that was a good try Silly me thinking we can sell off in these markets tomorrow's going to be a different story So I may just play these games until tomorrow, but you can see here. What's going on all we're really doing here We're building balance We'll all balance This is still bear if we get above this high volume node Again, I'd say 42 35 ish Forget the 25 to 35 Then I will change my tune until then I'm going to still look for shorts That one was a good try I actually Exactly scratched. So that was that was good. So I'll just wait for my next opportunity Um So what else still no questions verse another market if there's questions, just fire them at me another market that we were calling for week is was soybeans Guys the guys and girls the same principles go for every futures market anything you're trading actually stocks doesn't matter You're looking for balance. You're looking for conviction and then you're making you're trying to judge based on how that market is Reacting to that balance which way you want to trade, right? So what do we have here? Well, this was one monster balance as you can see Low high low high these are traders placing bets when they longs are wrong They will puke out their positions. What happened? We moved down we tried to hold we came back Tested the bottom built more balance gone now. Where are we? We're in due to the high volume node hvm is high volume node High volume node is just where in the middle of the balance It's an area. It's not an exact price where most of the trade occurred So if we do this this this this this this you can expect the market traded the most in the middle It's kind of like a point in control on the market profile, right? So that's where what do we do here? We took a straight We've been calling the short from up here and we finally did it and now This is an area where this could bounce, right? Not that I'm just like this looks just like gold, right? Not that I'm bullish this market, but if you're short This is an area where you want to consider getting out of your trade and you could play for a bounce if If the other stuff aligns, right? So if I get number one, I need a volume signal with my book map Your book map volume and my SI indicator, right? My threshold in beans is over 150 ice So I have still not seen anything. This was from overnight this zone here I'm gonna actually get a delete that because we traded up and through it So now I'm just waiting for something. I'm not going to go short this market again Right here because again we made a full This is a straight move Away from this balance. We're far enough from this guy. We're not going to get run over guys puking, right? Gap down we're all the way down here and we're far enough from this guy now too where This doesn't you know, this was the puke. So you're far enough away where I don't want to get short this until we can get through this high volume No kind of like yes if we get it back above that high volume note I'll look for long so we can get through this Then I'll look for shorts and then it's going to be ugly We keep saying free beans in the room because this thing looks so bad, but That hasn't happened yet and you can see what's probably going to happen here Is we're either going to just bounce straight back up to this balance and then fail Or build balance here and then rip down lower. So With that starts happening. I will reconsider being long But right now I'm going to look for long for a bounce at least back up into this area And beans is notorious for the bounce What is firing off? MQ I don't want to trade that Russell. We didn't say man All right, so now I just wait right I'm not going to go long if I say if I got a long setup here I'm not going long this market. I want to just wait and see how it reacts here If we get back above 30 35 then I'll look for long because then that will be A fail breakdown. What's a fail breakdown? Couldn't hold we put in a buying tail if it gets above this high buying node That is a fail breakdown all the shorts are going to be the much covered. See how that works But until that happens I'm still leaning short because markets can remain in their state and still test certain areas of balance series the lowest one Buying node is another if you can get above there then I'll change my thesis until then I'm still looking for shorts Especially because all we're really doing now is just building more balance. So let's see what happens here This can do that You'll be breaking out of a current balance through the high buying node That'll be a great long we're probably going to rip another 20 30 points higher If this holds and breaks down here, it's going to be a great short. This is kind of no man's land right now And yes, right We're just approaching the top of this balance right now So I'm still looking for shorts in that market until proven otherwise Any any requests for certain markets that'd like me to go over Through it is ridiculously bullish It looked like it was I still think short term. This is going to break down At least two you can see here. This has just been For a year basically straight up, but it's just balance Let's look at this here. Here's an example of a fail breakdown Right tried to break down Couldn't do it came back built balance gapped up through the volume node Built balance above that gone Right, so that was the start of that this big balance. This was multi-week balance area So that was telling you something was up when this failed it couldn't break lower Then we just started forming smaller balances and breaking higher balances and breaking higher. See this All back to what the top Higher conviction so gaps are conviction to this is a regular trading hours. That's what the gaps are gaps From the day to day gaps are to consider conviction as well Bro higher built balance Built small balance broke higher balance retested the high of this higher Built balance Trying to break down Put in a buying tail through the high buying node of these guys higher balance higher And now we did this and then we did this and this actually violated this high buying node of this current one And now we're just building balance here. So what I think one of two things is going to happen here We're they're going to hold this because Markets tend to defy normal principles when they're extreme in one way. This is obviously extremely bullish So what this should have done normal markets do this and fail and get through the high buying node It does that this is so bullish it instead of doing that. It just started to build a new balance here, right? So if this breaks out of this, I'll go along with this breaks below here You could consider a short because this is really nothing This was a smaller balance and the bigger balances are down here that we're probably going to move to for And again, this market doesn't mean I'm going to be bearish this market But I think we could you could take shorts for moves back in these high buying nodes of these guys here And that's what I'll look for But we're in no man's land right here. We're just building balance right here I'm favoring that to happen, but this can easily happen again. This is probably going to be short lived and it's still going to do that So Meaning I wouldn't blame me if you said, you know what? I'm not looking for any shorts I'm going to just wait for this thing to break higher and then then take long I would not blame you for that whatsoever. I'm just giving you guys different options to come up with your own ideas of what you're seeing there You can see here on gold elbow guy Also, uh coffee Back up when I was long and I didn't cover because I wasn't paying attention to it We did this and we could not pull this blue above and the minute it gets back below the red That's when the algos kick in the tray. The middle meaning average is and it puts it all the way down Oh, it's not me how to make sense But we can't once this can clear here And then that's going to be in our favor for a long as well And then you have the algos pushing it up too as long as you can get the blue back above the red So I'm watching that because I do want to take a shot at it long here in gold If first and foremost I get a volume signal. So I'm going to delete this zone from earlier Show you what that was Because we traded through it a couple times I get questions all the time. When do you when you delete your zones? It was like 200 bias. I don't feel like searching for it here But I'm going to show you overnight where I wanted to get short and I actually was leaving for my hotel room Because it was so hot in my house and I didn't put the trade on and it was a monster winter I'll show you what I saw there Me delete these All right, so we got a fresh slate here. So I'm just looking for something bullish to come in But anyway last night I bet it's running since glowbacks So we were breakdown mode obviously out of that balance area those balance areas. I just showed you Right here Yep, right here. I was literally walking out the door and this happened and I saw this uh, you had a stop run And I said this I bet you any money. This is a dumb and dumber Meaning stop run dumb money puke and then it fails and it does that And I was going to put the trade on but I've been burned lately trading overnight because the trade's been so bad And plus I can't monitor like new setups obviously because I'm sleeping And it's been hurting me because the setup will happen and I miss it and then I wake up and it's I'm stopped out So I and I wasn't going to be home last night. So I'm like, I'm not taking this short and then look at that That's funny. All you can do is really laugh. Can you look at that? Yep Oh, yeah, well, that's not done. No Yeah, that's what I miss All because my I would have put that on if I was in front of my if I could stay in front of my computer And I because I all because my air conditioning went out. I just lost like five air conditionings by not trading Prop trading room Scott. Yeah, so that's That's quite upsetting. It was really nice to see when I this morning when I looked at that but that move was I was waiting for that exact pullback. So this is not uh, this is just 24 hour chart All this did was pull back To this area that I ripped down through Right, yeah this you can make this one big one too, right? All we did is pull back to there and that was a signal and then that I don't know if anyone here likes three hundred thirty dollar trades three hundred ticks. I like that while I'm sleeping Didn't catch that one though, of course Scott, can you hear me? Yeah, I still think we're gonna break. What'd you say Bruce? Can you can you hear me? Yeah, I think my turn I've known because all those MACS signals were firing up Ah, okay. Okay What were you saying? Oh, uh, no, you need a prop trading room So so you can refer to some guys and they'll take the trade for you Oh, just watch it. Yeah Maybe one day 24 hours a day Well, we got that in my trade room when guys are watching the markets all night some of them But yeah, maybe I'll get to the point where guys just put trades on You know once you learn the setups and you know market structure You know, we all think the same way like a lot of the guys in the room took that es short Of that original ice and it did break. I mean it did break 10 points So the the trade worked, right? This was the first Again, I'm gonna let me I'm gonna make this a different color just so it's not as confusing to people But this trade worked it worked 10 points. It ran in a new ice. That's a new Something new that happened and that's why I covered half of my trade down there So this trade did work Right, let's go over this one more time. So guys in the room took this trade. I was watching them One guy took it aggressively meeting first break of the zone. He just jumped in Other guys waited for at least an ATR remember four points this moved That was this one here No, it was here Yeah, so this was close enough. It was three net points and it came here And this is where I entered but some guys played that Right and you got you got a good move down a decent move down And then it just started running in a new buy ice. I mean it is what it is You can't you can't this way I tell my room all the time Once this comes in you can't ignore just because you want this to go down You can't pretend this these new ice zones are are coming in you've got to respect them That's why I started getting out of here. I'm like, all right, this one failed But now this is coming in again. That was this like I'll just get out of half here and see what happens But what's important here is you guys are understanding If you are using this volume this volume is the most important There's nothing more important in trading than real-time buying. That's what drives markets lines on charts, you know Fibonacci Bollinger bands all this other stuff that everyone uses that doesn't drive markets It's how the volume reacts at those areas, right? So that's what you want to see But if you're if you're looking at this you're looking at this five-minute chart here Which most traders do right and and you're thinking that's breaking down you have no idea What happened here what did happen here though, right if you look at this You should have had this up When I was talking about getting out I just did it naturally but this was all this was this was overnight balance These are the principles, right? We try to break out. What do we do? We pulled back to the top of balance So that is short-term bullish I was thinking we can do this because of everything the bigger picture But I can tell you what if this does this And this builds balance here and then this gets through here Then we're going to get the move But you can see if you're so first of all if you if you're a normal, you know just a Chart trader which 95% traders are if not more You may have been out of this area where even like, you know what it's it's kind of struggling at the top of this overnight Balance I'm out But if you have the volume you know exactly why I struggle at the top of that balance because it ran into multiple icebergs That held it Don't you like to know why the markets do what they do instead of just saying ah, that's just trading percentages probabilities That's why that's why that didn't work. Well, yeah trading these probabilities But you can know why the probabilities worked or didn't work by looking at the real-time volume most of the time This told me that paper was the big money was not ready to let this thing go down yet They got right over here and then they just stepped it up again and bought it here and then it worked Right So what I'm saying is you use your real-time volume number one most important with what you know about market structure So I'm watching this all this is doing right now is basically building a daily balance right now I mean a five minute balance What happened here on a shorter time frame? Well, this is basically where I stepped up. But what do you see here one of the principles? I've already talked about we're going to put Bruce on the spot here because You've seen enough and easy but I know the answer is going into the corner What then? Well, it broke down, but it then bounced off the top Well, yeah, it's not coming. That's not coming overnight. False breakdown. False breakdown, exactly So not even counting overnight Not that you can predict that here But once this got through the high vine note of this of this five minute balance see how this works at any time frame Once it got through there gone. This is a fail breakdown Right, so you would if you're just trading charts, you could have been out you would have been out right in the same area Basically that got right cover a little higher But you can see these these principles and then when you can layer in the real-time volume with the icebergs and stop runs with your your structure principles You are ahead of 99.999 of retail traders period So this was a fail breakdown at the time. I got stopped out now. What's happening? This looks like this is going to be telling here now, right? Because when fail breakdowns this should do this this should do this this should do this For this not to be doing this is telling you something for this to start to build a bigger balance is telling you something You got to start to say, hmm that had every opportunity to rip Why are we just kind of meandering now? Not that you do anything right here. Nothing has proven yet But my point is as the day goes on and we build this balance and then say it does this does this and then breaks And then breaks through the overnight again overnight is important till it's not it's not as important as daily trade But you get this balance breakdown through the high volume note of the overnight balance That is going to be an incredible short you wait for your volume signal boom See how this all works you put this all together and it's using some critical thinking like so many traders Don't want to critical think about what's going on. They want to just buy a zone I just want an indicator where I buy here. It tells me where to buy it tells me where to sell Good luck. You're not going to make a trading. You may do okay for a while But you're just as a click trader. I'm telling you you're not going to make it You have to use some critical thinking and this is what I teach in my room And I'm teaching traders how to understand this stuff and then apply the real-time volume Based on what they're seeing. So if you're using critical thinking you would have said hey fail breakdown I don't want to be short above the side volume note. Hey, wait a second. How come that didn't keep going? I'm going to wait here now. That's interesting. So I'm just going to sit here and wait like a sniper in the weeds I'm going to wait see what happens here if this is unable to do that what you should have done Critical thinking what should have happened that didn't happen yet, right? If this comes down here and breaks you're like you've got all the the Critical thinking ideas in your head that this is going to be a short because of what didn't happen up here on top of What is happening happening currently again hypothetical hasn't happened yet? But if this does happen, you know what didn't happen up here should have done that on the fail breakdown Now you're breaking down out of balance now. You're breaking out of through the hvn of overnight That is going to be a great short and then you can throw in a broken iceberg or Stop and hold one of the five setups then you're golden and you're going to get the big one And that's how I treat And that's my trick Well also too, I mean Scott, I mean, I think I reiterate this just about every webinar. I mean, I just think it's so important that these higher time frame trades that you're you're looking at, you know, the real-time volume and and Order book in book map But you're not scalping here. I mean you're holding for a much you're looking for a much much bigger play and You know, that that's a really important distinction here. I mean you're in these trades like you you showed your trading view Account like a couple weeks ago or so like I I just have to reiterate like you're in these trades for like I think your average time was like 14 hours or something Yeah, because that was that takes into consideration some of my overnight trades as well But yeah, I'm in trades like I'm not scalping on purpose. So this rice goes to your exact point, right? So this was technically when I got out of half that was technically a scalp, correct But I wasn't trying the scalp. I wasn't saying oh, I'm happy with I'm happy with with seven points here I'm out No, I got out because there was a reason to get out and it just turned turned out to be a scalp See the difference. But yes, I am playing for so you heard me say I was short on this zone when I did this and broke and I saw this come in that broke And I said I'm going to add to this trade. I was looking for a 30 40 50 point move If I was right with three four and then add as new stuff came in I could add five six positions on and that trade would have made my year still can happen could make my year, right? So by default It could just turn a new a scalp, but I'm not trying to scalp. So this was a scalp I only took seven points off this half of this position But I took but I sculpted because of something that happened in the buying not because I was happy Like, you know, I got like some of the guys in my room They don't do it anymore, but they were doing it early on and they would get a verbal lashing for green is green I got out here and I would say why did you get out because I don't like bad trading ideas flowing through my room You need to explain why you're doing something. Why did you get out right there? um, I just had a feeling or You know, I like the five points that I got and I'm like guys You're not going to make it as traders if you're just randomly getting out for no reason So again, meaning scalping for no reason just because you like your p&l. You're not going to make it I'm telling you you may hang around for a while You will grind yourself down with commissions and not be able to keep up with the elbows I'm just telling you So you can do what you want to do. You can either decide tell my room every day You can do whatever you want to do. It's your money. You want to throw it out the window You want to put it under their mattress? It doesn't matter But the reason you're in here in my room or listening to these webinars is to learn from my 20 plus years of experience Good and bad, right? So most of the stuff I'm telling you are mistakes that I've made for 20 plus years So why not take that take that knowledge and apply it to yourself So you don't have to go through 20 years of torment and fast-track it and model me and what I'm telling you And don't go through that pain and losing money and everything else So that's what I'm trying to teach about you guys taking scallops and oh green is green and I got out because that Was a lower high and stuff like that. No go get out for a reason based on volume and your structure That's what you want to trade off of if it turns into a scout because it's something that comes in fine That's just that's trading you get out for a reason a reason is not hey I like I'm up 1200 bucks and I can pay half my rent this month That's not a reason market doesn't care about your rent Market doesn't care about your random stop your bracket order stops that every time you buy every time you get in the s&p You're trying to make five you're risking three points to make five What does this matter to the market? You're going to most times lose the three points because you're just putting in a random area If you tell me I I want to get in the s&p and I'm going three points below an important zone Then I'd say that that makes sense right an important and volumary fine And then I'm looking for five points fine I'm fine with that but just because you only want to lose three points Because you don't want to lose money you're going to lose money over long run I'm telling you so stop doing that and use this stuff to your advantage book map And book map the s&p indicator. I say it every time on on here is the most powerful thing I have seen in trading futures in my 20 plus years of trading and I've been saying it for almost two years now And nothing has changed period It's you guys if you don't have you're not using this there are new because this is a general webinar If you're not using book map This volume stuff you don't have the whole picture. I say it every time I'm on here I don't care how good you are at reading charts This is a head and shoulders and this is even if you're doing what I do and you know I mean, this is not rocket science seeing balance areas and breakdowns and everything else Even if you're perfect at that you still don't have all the information Because you don't know what's going on in the volume. You don't know is a is paper taken to stand here, right? You just Again, if you're successful just reading charts Just imagine how successful you'll be if you know how to read the volume in your areas of your charts That's why I'm getting Yeah, I mean it's it's it's funny scott. I mean like I think we did like an interview with you or Maybe there's an article and we re-quoted you or something. I mean years ago Before you started using book map. I believe And your your quote was like, you know at price It doesn't move price is volume moves price or something like that. Um, and uh, you know You've been you've been very consistent with that Yeah, well because it's what it is like there's no there's no there's no arguments about One structure, right? You can have a different you can have a different view of structure, right? You can say like today in the webinar someone said to me Um, because I pointed out this move in gold Right It's literally someone in the webinar said this and they still didn't answer me when I said and I explained the difference And he still didn't agree or understand He said, okay Because I said I wanted to be long this hvn that we just talked about because it was a straight line move Basically all the way down into this important area. I look for about not to there, but I look for a bounce in that situation His exact words were to me were me. This was just right before I got out. He said Well, what is the difference between that? that view and the in the es view of a move into the hvn Like that I want to be long is what he said and I said because this is a different look This is we are immediately below all these caught traders. Remember not everyone's a day trader There are plenty of long-term institutions everything else that are long in this area that are sitting there holding their breath Even right now they're holding their breath. Do you want to stand in the way of this puke? Playing this hvn. No, thanks. No, thank you, right? It did hold and if you did that the first time Yeah, great You got lucky in my opinion because if you take this trade where you try to buy an hvn as a balance breaks down Eight out of ten times you're going to get run over because these guys are cute, right? so That that's that's the point. He had a different view of it. I think it was an incorrect view granted It did work this time and I think you know that's negative reinforcement in my opinion because you take this trade 10 times You're going to lose or eight times you're going to lose but he had You can have a different thesis, but there's no doubting structure. There's no doubting. This is a balance area There's no doubting. This was a fail breakdown. There's no doubting. This is Structure a balance area. There's no doubting. We were below that and we're building balance below it Which is bearish you can't there's no doubting that right you can come up with different reasons why Hey, if this breaks above here, I like this tail. I like this balance like I want to play that breakout And I think we can get through that fine. I'm that's how I'm saying but back to the the original point is There's no argument with me here Or telling me that volume isn't the most important thing in the market because I don't care what you're using Including the stuff I'm using right out the algohuy Ludwig levels those stuff are Minor parts of the big piece and Unless the volume is agreeing with those areas It doesn't matter. They're not there. It's not important You see the difference like that that I've said that since day one and that's why I've always gravitated as that's why I was a scalper because This stuff runs the market granted you can't trade on this dome anymore because it's so fleeting because the algos But volume is what dictates What's going to happen not lines on a chart? And that's what I've sensed today one and I'll say it till the day I die And that might be today in this 95 degree house that I'm in doing this See what see what commitment and dedication I have to you guys 95 degrees in my house right now It's probably hotter than that. It was 95 when I came back from the hotel and I'm doing the webinar on that And you have a hot coffee there It's a tea. It's not hot anymore. But yeah Yeah, and I'm on three hours sleep about that's that that's the dedication I have to you I mean, it's just it's such a simple thing to understand um, and I'll look for that quote um and put it into the chat, but uh, you know, it's just um You know, it's just so nice to hear such a simplistic and true statement like that. Um, uh, so Uh, yeah, and by the way, I'm putting into the chat scott's information if you Want to reach out to him He's got a course and he's got a trading room, etc Someone's asking about the trading course in here. So The the links are now in the chat and go to webinar Yeah, so the court all the courses are my five course setups that I use with the si indicator to help you understand How to read the volume in important areas that makes sense to you, right? Hopefully like I don't talk about structure or anything like that in the course The course is just strictly about how to read the volume setups and apply them to areas So just you know, whatever you're using now things make sense. You say you like to trade off the web, right? So you like to trade returns to vwap like right now Well, if you get a great volume set up there, isn't that a much but higher higher chance of a bounce than Nothing, right? So guys that trade vwap like they're like, okay. Oh, I traded it here. Oh, it didn't work this time That's just trading probabilities. Yes trading probabilities But I really want to know why that didn't work most likely why it didn't work here Is this was a bearish volume setup one of my five setups that rip right through there, right? This is all you're doing is enhancing your areas that you already know And or if you want to learn from me, and then that's what the trade room is for That's what I teach every day is how to read like I'm doing here how to read structure and everything else But the course is based on reading the volume setups and then Again, if you're part of my trade room, you get a discount to the course As well. So or if you buy the course you get a discount to the trade room. So that's all on my website Check that out if you guys are interested and then I do mentoring as well S&P 738 by guys remember so we just talked about structure how that was a fail breakdown how that should have just quickly There's just more and more evidence that this thing is going to break today lower, right? One bigger picture. I know I'm focusing a lot on this market. We'll look at muscle two here quickly, but S&P 700 one by below this look at these tails too. Look at the I know there's one here But now you got four tails instant rejection instant rejection instant rejection and you got balance below balance That's negative, right then on the five minute. What do we see we saw the fail breakout a breakdown? Wow, that's really bullish, right? Well, if it's really bullish, then why didn't we rip? If this was really bullish and we held the this balance area overnight high Why didn't we do that? What why is this doing this? That's number two. That's number three Look at the S&P 700 to buy so now you got buy eyes coming in so I will short this again I'm going to delete these zones because it's confusing me and we've traded through them I mean this last zone here. I'll keep in Let me just I'm going to remove this metal one. How about that? That's going to make it easier. Now you see here. Look at this This is the catalyst if this can't hold I am going to short this market again based on everything We just talked about while this is forming. I'm going to show you the other reason I was just showing you here in a second. Look at this ice that's coming in. Look at this 2000 almost 2200 buy ice Are they going to hold it or are they going to get run over? You don't guess that let it show you so let's draw the zone I'm probably going to delete these other zones now just because this is such a whopper There you go Because whatever happens here is the way we're probably going to break for the day. I'm going to just I'll leave that one. I'm going to get rid of this one though because it's Again, this was a convoluted one anyway. It did hold but Trust me if this breaks this turns into broken ice. This is the catalyst for the more lowering with that. I've been talking about Again, the first one we tried didn't work. They're coming in again here if they can't hold this I'm going to look for at least a four point move below Right four points. Let's look at the atr. There you go. There's your four points You can even do four and a quarter points to see that average true range for the five minute period is four points You want to adjust your usually I say three points, but today's four because it's more volatile So what does that mean? That means I'm looking for a four point move below here. This was at 9 50 ish so I'm looking for 550 and move down to 550 A retest fail Or you can just play half of a standard deviation and enter aggressively if this breaks So you would go Two ish points so 750 725 you can enter there too Aggressively because again, you're risking it just doing this and not coming back 80 plus the time it will retest and especially in this market, especially On the short side you can wait for the retest because it's just what it does This is the defining moment of this market up till now. So let's watch what happens The other thing I wanted to show you why this is also bearish. We've just talked about like three different reasons Look at this. Look at the difference in this volume here See a difference This means there were more market sellers hitting the bids coming up and this is including I mean, they're This incorporates icebergs too, right because the icebergs are sucking in the bids. They're basically The passive buyers, but this is very telling We came up to another high and they're we're at negative 4 000 wait. What? What you talking about willis? Right there. What's that from burst? Um, different different strokes Arnold So anyway You got you got to keep some company to ensure you realize your mind This is a huge divergence another reason why this is probably going to say good night if this starts to break down again So now we wait, right if this turns around And holds this will be a titanic setup if this This iceberg holds this area and moves higher. That's fine. I'll just let this I'm not going long right here up above 30 I'll go long I'll just let this play out because I don't think this isn't going to hold I think it's going to do that and then go to zero today Just kidding But do you think we're going to break down? Again, so I have my thesis, right? I'm not right all the time. I'm probably not even right half the time as far as I'm probably right half the time but The point is you come up with your thesis and then you let the volume confirm it Then you put on a high percentage trade. That's what trading is. It's not a hundred percent Nothing's on a percent. You put yourself in the best position I just gave you four different reasons why and then what are we what are we going to do if we break that ice? We're going to be breaking below the yellow lug, which is also confluent with VWAP. That's another reason to be short Right, so that's like six reasons right now What about Algo guy? What's Algo guy doing? I'll go go try this is one of the best setups It actually did pull the blue above. So let's see It didn't hold it. That's telling. Let's see if we can pull the blue below and then that So I'm waiting for that that this kind of that's not really giving us anything What's another what's another thing that you can look at? Here's NYSE tick. What's this showing you where we've been at most of the morning? These are the stocks that drive the futures, right? Let's drive the indexes that the futures are based off of We've been below zero most of the morning That's negative. What's ADD look like advanced decline ratio? Again, I don't use any of the stuff in a vacuum. I just use it to bolster my case So how did this react? Again, these are the stocks that comprise the Dow But it's still the same stocks a lot of the same stocks in the ES. So what what happened here? Look at this divergence Right now. What did that look like compared to this? Huh, there's something wrong here, right? We did that came back to the high We did that did that come back to the high sure didn't another divergence bearish Do you see like if you can get so many checkmarks in your favor, then you put in a high probability trade Once you get the real-time buy-in confirming it. That's what trading is And here we go. Let's see if we can break down. I'm going to wait for a retest I am risking missing this trade because if this just does this Then I'm going to miss the trade But I know this market and I know it's probably going to do this And then it's going to do this and it's going to look like I'm wrong and then it's going to do that Because I've seen this set up about 4,000 times Any questions versus Yeah, Nick Nick is actually asking about um your es voice setup Is um Is it saying wheat uh he he because he he's getting um I don't know if check the settings on it. I guess um, no So saying s and I literally you can draw you could say whatever you want. You can say heads up S&P dummy you can say you're an idiot put this trade on whatever you want There's this but all it's doing is trickling when there's more than 500 I stop run it'll it'll say It'll text me that's this Because you want this because you start to get immune to the voices right I'll hear stuff and I don't really hear it So I always check this to make sure I didn't miss anything. That's the text The voice will read off and then it stops There's gold breaking nice buy one. So I'm looking for a dumb and dumber on gold. If this stop run fails I'm gonna buy it. I'll show you here in a second and then you put in this I learned this from some guys in the room. There's a couple of really smart traders in there Brainiac dudes where they know about the programming stuff and this is pretty simple But I didn't know it you put this in and it will read off the exact size of fighters off So it'll say s and p It should say stops here and then it'll read off the size and then I have the same thing here This is probably why it's not like we because I didn't even know I didn't have that in there There you go. So that just reads off what happened as long as there's over 700 I said, we'll read it to my All right, here you go Now here's the threat. There's the move away in atr. I will wait for a retest I am risking missing this trade though. So if you love everything I just talked about You should have been shorting two points below the zone But I'm going to wait for a retest that I'm a wait for a fail A fail meaning two points are half an atr below I will get short and then my stop will go four points above this zone if 1550 I am risking missing this trade But if I don't catch this zone, trust me, this is just starting and there's going to be some good stuff And you can see here comes the ice again Because they are so immune every time they buy they basically are right in this market So they're just like, god, we'll just throw some more ice in and be right again This isn't threshold yet, but I'm watching and it's close. Yeah, it's close enough of 675 I think Yeah, so this is this is another zone. It's not as big as this one But it's just something to know I'm not going to draw that in right now because I want to just pay attention to this bigger zone This is massive So just imagine if you say you're a big trader in a firm and you just bought right here. What are you thinking? Oh crap, please This was me. This is how I know this and this is exactly what I would say and I would use different words than crap Trust me. I say, please come back. Just please come back. I'll scratch a trade. I want to be greedy Please god, please just let it come back in my zone I will get out of this long that I just got run over with and then I would get filled on some I put a bunch of offers in I get filled on some of them I'd say say I got it filled on half of them and then it started to move away Then I'd have to go to the market and that would cause the next move down That's the whole philosophy behind the retest fail Again, the problem is if you wait for that, you may miss the trade 80% of the time I say it does this but 20% of the time So you've got to decide as a trader do you want to be aggressive here or not? I will wait Because I know this market and I also know we're kind of hovering right at The what we call them lugs. So I have to say lug wig levels every time the lug I will wait for a retest and then this is the first target that I'm looking at You got that there was just so much going for the short And back to our structure stuff. Why did that thing not rip? This is exactly what I said was going to happen. Did I not oh nice I gotta look at gold here. There's gonna be a good long setup. I think Um, I said, well, great. That's a great fail breakdown. What wait? Why why wait? Why are we doing that all because we're building balance and now we're gonna do that It's my that's my thesis And then I look for the volume to confirm it for the 3000 time. All right, let's look at gold What do you know there's some bias coming in trying to hold the market up First time for everything So now if this breaks and I don't get the retest so this is where it gets a little tricky, right? And I hate this and it seems like it happens every time I'm on these webinars It's like yeah, this is a bear signal But now you got this that's kind of stopping it like I did the first time I will still take the short though because this is massive And then I hope it does that for instance say this doesn't retest and it breaks this Then I'll wait for a retest fail of this area that just came in because this was just like the first one We saw earlier, right? We saw the back-to-back ice come in. That's this little zone right here He had 675 ish Little over 600 and then right after that here's most this is like a thousand right here in this zone So let's draw this zone Here's the retest. How did I know? Well, because I've seen it 4,000 times So again, I hate Fate like again because this isn't technically if this wasn't in a vacuum by itself This would be bullish, right? So I'm going to be shorting if I do short this retest I'm shorting in front of this which is lower percentage By 151 But I'll still do it or if you want you just wait for this to fail And then wait for it to get to this zone No, 153 That's actually what I'm going to do because this is why it's by 153 I'll risk a couple more points not to be standing in front of this setup that was potentially bullish So do you see guys? It's not I want this thing to break but this came in I can't help that So I just got to adapt to that This is what I'll do. I will put on half position here And if it breaks through this then I'm going to put on another full position and then watch this thing free fall about 30 points So again have an ATR QI cell 150 Two and a quarter point or two Yeah, two points below this zone Say 975 I'll give it the benefit of that out And QI cell 150 So I'm going to get in and QI cell 153 I have a position there and the biggest through this I'm going to I'm not really looking at NASDAQ because I don't like where this is on the In the structure that we talked about Oh, I don't want to miss gold in here So that's in let's see if I get filled on that if it breaks this lower zone then I'm going to enter in a full position I'll have one in that position Here's gold in the row saying I'm looking for some buy signals down here well first and foremost You see this liquidity in here. It's been in here all day They paper needs to get filled first because of course, they're always right. See this See QI cell 155 you can bet that they're gonna get filled by 150 Sorry Let's draw the zone anyway. You see the stop run right Over 200 that's well over threshold for gold See where it started see where it's spiked down here And you just go to those bubbles and then you draw the I'll change this color to a stop color and then you incorporate all the prices that happen and that's bike That's about right here changes to yellow. So, you know, it's a stop run. It's not not a nice bird So I don't confuse myself That's that sound So this right now is technically let's see what the ATR is This is gonna huge because this went all over the place today Yeah, 30 37 37 ticks. This is where you don't trade full size because you got a risk Literally 37 ticks below the and above zones for stops and things like that. So this is bearish Set up I don't want to go short right now. Even though I know this this did pull a little bit. I still think this is gonna fill I don't want to go short because where we're at on the chart If we get through that high volume note, then I'll look for shorts. We just covered this but I'll show you again quickly This is a major area And we had a straight move into it. So I'm not real excited about shorting until we can get through what The hvn the high volume note. It's an area where most trade occur Right, we're still right there But if we get lower and below this, this is a prior zone entry for some month We get below here and then I'll look for shorts because this is fatal then right But I'm expecting some kind of bounce and that's what I'm playing for In this situation, but this is not this is considered a stop and hold right now, right? I mean, it hasn't gone in atr below here, but pretty close It's already 20 plus ticks below the bottom of the zone stop and hold stop run that holds and the big money continues to push it lower That's what's happening right here, which is bearish. I don't want to go short right here So I won't let that pass until I see a bullish setup Here's a yes. I did not take I never got filled on that This iceberg again held this market Let's see if it gets above this zone But I'm not going along the sparking either. I'm playing for shorts until again, we get above 42 30 and then I'll play loans I will still all this really is now Is a retest of this zone again. It's retesting it did it once now. It's doing it again All right, I didn't did it retest before no, this is the first retest, right? Yeah, so all this is is first retest So we want an atr below this Or we said four points almost exactly Here's the first retest now if this fails I will enter half position if it can get through these guys I'm going to go in our full position and watch as they go to zero I'm kidding, but Today and tomorrow is going to be tomorrow is going to be ridiculous. I think tomorrow is finally where the thing just starts to unwind We'll see Again, that's my thesis. I'm not You know, I'm right I'm coming up with an idea and I'm basing it on structure as well I'm not just saying oh, I think something's going to happen I'm looking at the charts and aren't my structure and saying this should happen So look at Russell here. Let me look at this thing. It's hanging by a thread see this didn't draw look at this balance balance Just below Do you really think this this guy here the stuff here is going to hold this if all these guys puke? No, we're coming down here. So I will short Russell on any kind of signal as well I think we've gotten anything in there Nothing yet No, trust me. It's coming And then what do I do is I go over to my market profile stuff and my lugs and take a look at that So let's see what that looks like. This usually draws a lot new lugs and once it's below the blue, you can see it can't The blue is like the support Fail fail fail try to get inside failed at the yellow fail again If we call this a baby lug you can learn about all those in the room fail fail fail It's about to accept in this I'll show you that this has about eight different reasons why you want to be short this market as well On a volume setup not just throwing it in right now. Look at this What do you see here? This was yesterday. What happened? It tells a story. Use critical thinking in your trading This was a composite This was a single day yesterday. We opened up Try to get inside back inside failed came down bounced off this one failed bounced off this one closed right here Today try to get inside. No couldn't even get back to this now. We're trying to get back inside this This gets inside this it's doing this and then it's doing this I gotta make I switched months here. These have to be merged. So this is a perfect example, right? So these three you see these value areas here These are single days value area value area value area all on top of each other you merge those you draw a composite to This is not 50% inside of this so i'm not going to merge that one Then what do I do I draw My composite i'm doing this now because this is where we're going It might happen today or tomorrow tomorrow probably most definitely So if we can accept into here The Tennessee for markets once they accept into composite profiles Let's go to the other end if we get out of this one. We're coming down here That's what i'm trading for And then I look for my buy and confirm All right, so we're not a guess here Um Gold again, this was a bearish setup. I don't want to go short yet I'm looking for buys we got to let this volume get filled because paper always gets their fills Because they run the show I tell my room all the time Yes, do I believe these markets manipulated 100%? Why because I've seen it in my career and I see it every day Do you're going to get mad about it or what's the what's the adage if you can't beat and join them With this volume stuff you can see what they're doing So join them instead of bitching how how markets are so manipulated join them Know what they're trying to do know where the liquidity is know that they always get their fills If you're short, you know, this is probably going to go to here You know if you're going to get long wait for them to get their fills then look for setups But use your volume setups Yes, do you see how important the volume is it's the driver of markets And knowing what the big money is doing is key All right, let's see if I get filled there. I'll stand a little longer So I can get tortured in the s for this is going to break. It's just going to torture me for like a couple more hours Careful Scott every time you say that you get filled and you get wrapped into a trade for another half hour What'd you say? Every time you say something like that you get you get filled and then you're in it for another half hour Very nice Let's crew just bro. That's what I was assuming right based on that structure stuff Just take a quick look here Remember I said that was a better area of trade, but I was leaning more on the short side for temporary And now we're breaking I said it's for you balance to see what it does and now here we go Right and this means this is nothing. You got this little dude Get to the yellow in here All right, I think we're coming down to these balance areas are down here 70 69 69 and a half notice big tail is This is probably where we're coming And then we're probably this mark is still bullish, but this isn't a time where you can play for pullbacks Let's see if I get filled here That stops This could be the hey look at that look who got look look at their fills, huh? Don't run over same exact scenarios So now here's another stop run. It's not that big, but I will go along on it. Let's see here This could be a dumb and dumber 153 stop run. I'm just going to aggressively go along this market again the lat the least um The least likely to retest the zone like I was talking about a retest the golden crew do it all the time more So than the other ones, but dumb and dumbers just by design are quick pukes of a retail trader gnaw Right. We know paper got their fill. I'm going to buy a half position here because that Because paper got their fill because I said we're in the hv another balance area And I I have to go in 80 the reason I'm only trying to have size is I have to go in atr below the zone So that I have to go 36 see with the atr 36 ticks below the zone For the you're just basing that based on the volatility of the day, right? So that's 60 there's my So that goes there half position because I have to I'm risking 60 ticks on this trade Why am I doing that because I think if this gets motoring up this can move 200 ticks the other way So that's what over three to one on my risk. That's what I look for. So what I'll do is if I see New new signals come in I will add and then I can see that's when you can start trailing your stop You don't just trail your stop because you like your p. No you trail it because of the new things that come in on that Never got filled on the es Holding on for dear life We can draw some sun in the man's neck if you guys want to trade it, but I don't want there was some stuff firing off There you go 200 cell ice. What's this broken ice bullish Broken cell ice. It's one of my five setups. Where did that start? It's clean, right Where did it spike right there? No, because you want to incorporate all the prices that happen in the spikes that came all the way down here But these will make it black because I take Usually make cell ice black to help me determine Not that Again, you're not saying paper is always right. It's the area that's important, right? Like this instance paper is not right. The cell ice was not right I get all those prices. Yeah, I'm gonna show you how they got run over There's paper right there. Not so much That's a bullish setup, but I'm not I don't want to go. I'm not even trading this market in the areas We already got over it So that's the ice. So if you wanted to get long You're trading off this you say hey you got my buying set up. I want to be long Moved away retested gone. That was a full ATR. Let's check the AT. Does this look like a bearish Short-term setup in here. No, it looks completely bullish, right? What do we do? Overnight balance broke out Little balance here broke out more balance here broke out The broken ice just got run over on a break out of a balance area. So that's That's what I'm saying, right? So say this would have held Say this didn't break and this would have helped. That's a titanic setup. I want to run a known iceberg in holds, right? That would have been holding it run into a cell iceberg, but I've shorted that away Do I want to short on breakouts of balance areas? No, that's what I'm saying You don't trade anything in a vacuum book my volumes number one, but I would not betray I would not be shorting that This is these are traders that for the last two hours that are in this area that are puking Why do I want if it does this then I'll go short Or I would potentially and I don't want to short here based on the bigger picture But I'm just giving you guys examples So that this is a very example how you wouldn't short this market right here even if this ice held Doesn't mean it can't go down It just means the odds are against you because you had all you have all those traders that are puking right, so this is So if this goes for This will basically be violated because we went four points where five we did an atr below If this gets four points below here, then this whole thing is violated. I'm going to cancel this order It's not a bearer sub anymore So we're looking at 16 sees a trade up to 16. I'm sorry 15 50 that was the top of this zone here If this holds and comes down, this is still intact because I didn't get an atr above this zone So I will still consider this broken ice, right? Again, if you guys are confused You're not going to learn this in a day all these setups and all the terms. That's why Join the trade trade room get the course fast track your learning I mean there's guys that join the trade room that try to learn it in there and you could you will But it's not going to you're not going to learn it your learning curve is going to be much longer because I don't You know, it's not like I'm educating on the exact courses the setups every day I'd say like I'm doing here, but it's going to take you longer to learn as what I'm saying So this is not working Again much lower I'll start looking for shorts and and go I'm giving this a chance to bounce off that high volume Let's look at the we did not look at as a lugs and it's one of my Very important reasons for trading our areas Yeah, this is a great This is what you look for. This is a good long area. We get the setup. We know it's the hvn. We get a lug. These are So powerful, right if this fails and fine. It's still high So 153 Right. I'm looking for that if this fails then fine. I'm taking a high percentage trade. That's what trading is And I had the buy-in to confirm it Big sell ice here Probably the biggest of the day It's over 200 and still coming in. We'll mark this zone two Let's see where this is and qi cell 150. I might try to get off and something comes in. There we go Try to get off the webinar. Yeah, I mean, this is not I'm not shorting this market. Look at this thing This is uh Talked about this this held this dude buying tail little balance here and you had Pretty much a balance there and this is a fail breakdown I don't want to short that I was shorter if it does that and gets below some of these areas I'm not shorting this even if this iceberg holds The way you should be playing this is looking for broken ice This was the trade. I wasn't looking at that chart. This can be traded to the upside I was thinking we were still down in this I was thinking because I didn't look at this longer-term chart. I was thinking we were still in here somewhere Worked through that. This is a fail breakdown. That's bullish So I would have taken this trade here or whatever Now you have another chance here. There's more solace. Let's mark this zone And possibly go long off this Already have my color set up There you go. There's the ice on right there ATR is 21 points. That's not fun, but it is what it is hourly ATR is 68 points. Let's say 70 points. So you can go 20% of that. That's 14 points. So you can go 14 If you if you don't want to risk 20 you can go 14 So meaning what meaning I need to see this Go 14 points above here For this to be an official Broken ice meaning this ice got run over and then you look for a pullback retest go Again, sometimes it doesn't pull back So you had to decide you want to be aggressive or you want to wait for pullbacks You don't know what this is yet until this breaks away and retest I'm assuming based on the charts Let's look at the lugs. See what just happened there More bullishness form new lugs. That's bullish I think that's the yellow right there and now we're above the yellow and if you get a bullish setup This is the target completely bullish Russell ice 150 to buy Let's check out that ESG Cancel that order obviously. Yeah, so this is canceled, right? So do you see how having this information? So if you got short on the next move, you're like, yeah, this is it This is where it's going You don't know that this happened and you like I was ready to short this thing This cut popped in so I'm like, I'll wait and see what happens here And I'll wait for it to get blood never filled me and then I'm not in the trade All based on buying You don't have volume. You're just guessing you don't have all the information You can argue with me that you're blue in the face. You do not have all the information This still doesn't look this doesn't look like this is still just form a balance Every way this breaks is going to be the move For today, right? Yeah, fine I'll get long above these areas if I see more balance built and I'll do that I was expecting that to break didn't happen yet See what happens There's some Yes, this is Back to the entry Never got below there never set me out. I think this thing is going to rip as it adds new new signals new setups I will add and then I will trail my stop based on the new setups Any questions before I up off here? No, I've been answering the questions in here. So I think we're I think we're all good Nice by 150 By always coming in in this zone here So again, this looks the most bullish from all Way for a move away. You could just play it on a move away half an atr You can be aggressive seven points above the zone 89 and a half or you can wait for 14-point move away retest go And up to that red lug that we were looking at That's what I'm going to do that will be Again, if you do that you risk missing the trade if it just goes to the straight b-line move So that's the you have to decide that as a trader obviously All right Bruce, that's it. So yeah, I should be looking for longs more longs and gold long setups again based on the volume in soybean soybean thresholds 150 It's not bouncing yet, but there has been anything yet to even trade it That's keeping me out of trouble, right? So I have a long thesis But waiting for real-time volumes keeping me out of the free fall right now, right? Because I haven't gotten anything volume-wise Another reason why you need volume But if you if you know this and you're a balanced expert and you say this is a great trade This is a straight line move into here. I'm gonna get long. Okay. Well, you're eating it right now I'm not eating anything because I didn't get any setup So I'll let this thing free fall some more. I don't care and when I get my setup then I'll go long Right, you could this hvn is a zone. So where are you getting long 22? How's that tasting right now 17 points in your face just trade now for hvn There was no setups here. This one's close. This was broken ice anyway Yeah, it was that was 130, but I wouldn't even that That's not bullish. That's broken ice Here's the retest. Look at that. I'm just waiting for a setup. This is close This is 115. So it'd be nice. This is still broken ice right now Here we go. Here we go. Hey, what do you know bruce? About to hop off and here comes a huge iceberg. I mean, who are you guys trading off of this? Is that why you did this? Do we have huge traders in here throwing in some icebergs? Look at that right with Here you go. This is the signal. Let's draw the zone And it's unbelievable. Okay, I just can't I can't I can't get left Look kids big band parliament movie Bruce I don't know being old Look kids big band parliament. I can't get left. You do not know this quote. Oh, you're you're you're peeing vacation All right, that was good. Yes. Good gas Oh, because someone typed it in did you cheat? No, no, no, I I guess I that was a gas Very good two for two So if this breaks that's bearish am I going short? No I don't want to go short. I'm looking for this to hold now along Let's give this a second. What do you do next? Check the atr so we see how much we have to risk Oh, I found that quote a long long time ago interview with you volume drives the market not the price Oh, yeah, what one is about two years three years ago, right? Now so the atr is 13. So you do 20% of that. That's what 2.6 Yeah, 2.6 and then I like at least three. So let's look at the in beans Especially a day like today. It's a little more ball See what it is on the five minute Yeah, three. There you go. It's three cents So this needs if this goes over three cents below this zone Then that's going to be broken ice If it can hold here once it gets three cents above that'll be a titanic Right, so we don't know what this is yet is what I'm saying For a nice seven one six five Again, if this does this that's broken ice. That's bearish. It should do that and that I don't want to go short for the reasons I said the last thing we need to check which I should be checking right away Market because it's so powerful. Where are the lugs telling me? In the market profile. Here's market profile. Where are we at? Accepting back into this zone tendency is to get to the bottom so this could make us swipe down there No swiping swiper But I don't know that Bruce because you don't have kids do you have kids Bruce? No No swiping swiper I guarantee you have the people on here know what that is. It's from Dora the explorer Um, anyway, we're below that. We're below the yellow lug We are coming to the two standard deviation of VWAP of The daily value area. So this is VWAP. This is negative one negative one and a half negative two There's lots of elbows that play off that that will be confluent with the bottom of this But that's just not right here. It's about three cents lower So I'll still take the long but that stuff's not All right, so we actually this is this is bearish. I'm not taking the setup now Nice by 414 We went An ATR below this zone What I would like to see is this come down here and see another one of these pop in here Then I'll go along but this one is not no longer valid So I will not play this as a bullish setup because we violated it, right? This is done Doesn't mean if it does do that it could I've seen it doesn't happen very often So I'm trading things I see very often. I need to see a new setup and I'd like to see it down here I'd love to see another 200 by lights for coming here to get along Because then that would be consistent with all this stuff At least not on the lugs but with the Close enough to the blue lug doesn't have to test the lug either right that's actually a sign I did an interview with her it's in my Record all my webinars in my trade room, but I did interview with her explaining some of the stuff And that's actually a sign if it can't get down to the blue and once it gets back above the yellow That's a that's a bonus signal too, but this is you got a lot of stuff aligning here. You got the Two standard deviation the web you got the bottom of this profile composite If I get a signal now a new one I will still go along but I'm not playing off of this one because this was violated This is actually broken ice. So if you really want to short here you wait for this This was an ATR. Here's the retest Half an ATR you get in and you play it down here I don't want to get short. I don't think this has much more room to go on the downside. So I'm not I'm just looking for walks right now All right, I'm not gonna wait for that to happen though. So um Let's see Cole's just sitting basically at the entry pretty close What happened with NASDAQ? Did not get an ATR above there, but we got to have it when we're looking for 14 points So we need to see the trade up to 96 that didn't happen yet, but this is looking like it's going to be broken ice as well That's bullish This someone is now Basically invalidated we traded down below it and above it These guys are gonna be right as usual I will look for longs in the S above 14 30 you can go long NASDAQ now Russell's I don't really want to take longs there. I explained that earlier. So Kind of mixed guys, it's probably just going to bounce around today. Tomorrow's a huge huge day. It's probably going to be very very very volatile But I'm looking for a breakdown. So we'll see Cole's starting to move our way I got a round at TPC right now Now around in a couple beers. Should I get out Bruce and just go play golf? Oh, that'd be that'd be great Well, not really because it's 115 degrees here So, yeah Yeah, okay. Yeah, not not not now All right, that's it for me. I'm out of gas Hopefully you guys learned if you want to learn more come to my trading room That's awesome. There's really good traders in there if you want to learn the setups get the course you get discounts from the trading room You know, you know the drill Thanks for having me Bruce and uh any you guys have questions should we email? Um It's about it. Any other questions? Let me know not I'm not buff Yeah, no sounds good. Uh, thanks scott. Thanks so much. Uh, and um, we'll uh, we'll see you next thursday Stay, uh, uh cool there if you can uh, hopefully you get that all fixed and uh, you get back to The ac Yeah, trading is hard enough If you're not pouring sweat and feeling like you're gonna faint. So yeah, I appreciate Okay. All right. Take care scott. Thanks guys. Bye. Bye